São Paulo — November 10, 2025.
Key points
- Axia Energia (ex‑Eletrobras) began trading under new tickers on B3 (AXIA3, AXIA5, AXIA6) and on the NYSE for its ADRs (AXIA and AXIA PR), with an opening‑bell ceremony in São Paulo and early gains in AXIA3. [1]
- Oi (OIBR3; OIBR4) had its bankruptcy decreed by the 7th Business Court of Rio de Janeiro; services will continue provisionally under court supervision while assets are liquidated in an orderly process. Subsidiaries Serede and Tahto remain in court‑supervised recovery. [2]
- Kepler Weber (KEPL3) disclosed details of a non‑binding offer from A‑AG Holdco/Grain & Protein Technologies (GPT) at R$11.00 per share, a 48.3% premium to the 60‑day VWAP; the company granted 90 days of exclusivity and says no binding deal exists yet. [3]
- Ibovespa set a fresh intraday record at 155,601 points early in the session amid global risk appetite. [4]
Axia Energia: new tickers on B3 and NYSE
Axia Energia—Eletrobras’ new name—debuted its tickers on B3 this Monday: AXIA3 (common), AXIA5 (preferred A) and AXIA6 (preferred B). On the NYSE, the company’s ADRs now trade as AXIA (common) and AXIA PR (preferred), replacing EBR and EBR.B. Axia marked the change with a bell‑ringing ceremony at B3 around 9 a.m. (Brasília). At 10:45 a.m., AXIA3 rose 1.84% to R$59.76 while AXIA6 advanced 1.57% to R$62.92. [5]
B3’s own investor portal Bora Investir confirms the new codes and trading name (“AXIA ENERGIA”). A Citibank depositary notice for the ADR program details the NYSE symbols, explicitly listing AXIA PR as the preferred ADR. [6]
The rebrand follows Eletrobras’ privatization (2022) and caps a broader identity shift that the company says emphasizes financial discipline and operational excellence—“Axia” references “value” and “axis.” [7]
Kepler Weber (KEPL3): GPT puts R$11 on the table
Kepler Weber clarified a non‑binding proposal from A‑AG Holdco, acting as Grain & Protein Technologies (GPT), with an indicative price of R$11.00 per share. The company granted 90 days of exclusivity for due diligence and negotiations but stressed there is no binding agreement at this stage. The proposed price implies a 48.3% premium versus the 60‑day VWAP prior to exclusivity. [8]
As context, KEPL3 closed last Friday (Nov. 7) at R$10.48; shares were around R$7 near mid‑October when exclusivity was announced. [9]
Oi: bankruptcy ruling with provisional continuity of services
In the most dramatic development of the day, the 7th Business Court of Rio de Janeiroconverted Oi’s court‑supervised reorganization into bankruptcy, citing the company’s “technical insolvency.” Judge Simone Gastesi Chevrand ordered an orderly liquidation of assets to maximize recovery to creditors and authorized provisional continuity of telecom services under a court‑appointed administrator to avoid disruptions. [10]
In a separate decision, the court maintained the recovery proceedings for Oi subsidiaries Serede and Tahto, noting these units have conditions to recover independently of the parent. [11]
Earlier in the session—before the ruling became public—OIBR3 had already been sliding on reports that the court‑appointed management described an “insolvency state”; by around 11:45 a.m., OIBR3 was down nearly 18%. [12]
Market context: records on the B3
Brazil’s Ibovespa index touched 155,601.15 points, setting a new intraday record and marking a 14‑session winning streak—helped by international risk‑on sentiment and a busy local earnings calendar. [13]
Other corporate headlines in Brazil today (Nov. 10)
- Raízen (RAIZ4) agreed to sell the Usina Continental in Colômbia (SP) to Grupo Colorado for R$750 million, including transfer of cane supply contracts; payment at closing is expected, subject to customary adjustments. [14]
- Irani (RANI3) approved R$10.3 million in dividends (R$0.04478 per share), with record date today (Nov. 10) and payment by Nov. 25. [15]
- Mater Dei (MATD3) posted 3Q25 net income of R$27.5 million (‑57.2% y/y); EBITDA R$125.9 million (+16.3% y/y); revenue R$567.9 million (+16.3% y/y). [16]
- FII CPSH11 filed with Cade to acquire Midway Mall (Natal‑RN) from Guararapes/Riachuelo; the asset has 66.2k m² ABL and R$121.7 million NOI in the 12 months to September. [17]
- Assaí (ASAI3) guided ~R$700 million in capex for 2026 and plans to open 10 stores next year, keeping a deleveraging focus. [18]
- M. Dias Branco (MDIA3): confirmed 3Q25 net profit of R$216.1 million (+73.3% y/y), EBITDA R$318 million (+39% y/y) and net revenue R$2.784 billion (+15.8% y/y). [19]
- Ambipar (AMBP3) said the TJ‑RJdenied a mandado de segurança filed by Santander tied to its restructuring, allowing the case to proceed. [20]
Why it matters
- Axia Energia’s rebrand and ticker change formalize the next chapter of Brazil’s largest power utility after its 2022 privatization, with ADR structures on the NYSE already aligned. The company says the identity shift reflects a strategy focused on value creation and operational excellence. [21]
- Kepler Weber’s R$11 indicative offer could reshape the post‑harvest/agribusiness equipment landscape if due diligence and negotiations lead to a deal—investors should watch for any binding agreement and potential regulatory steps. [22]
- Oi’s bankruptcy removes uncertainty around its financial viability while seeking to preserve critical telecom services during the transition—key for customers, employees and creditors. [23]
Editor’s note: This article is for informational purposes only and does not constitute investment advice. Always do your own research and consult a licensed professional before investing.
References
1. www.infomoney.com.br, 2. www.infomoney.com.br, 3. br.investing.com, 4. www.moneytimes.com.br, 5. www.infomoney.com.br, 6. borainvestir.b3.com.br, 7. www.infomoney.com.br, 8. br.investing.com, 9. www.moneytimes.com.br, 10. www.infomoney.com.br, 11. www.infomoney.com.br, 12. www.moneytimes.com.br, 13. www.moneytimes.com.br, 14. www.infomoney.com.br, 15. www.moneytimes.com.br, 16. www.moneytimes.com.br, 17. www.moneytimes.com.br, 18. www.tradingview.com, 19. www.moneytimes.com.br, 20. www.moneytimes.com.br, 21. www.reuters.com, 22. br.investing.com, 23. www.infomoney.com.br
